Sportradar Moves into Crypto Market With Stake.com Casino Deal
Sportrader has entered the crypto betting market by announcing a partnership with casino brand Stake.com. The company will use its sister company Betradar to supply managed trading services to the operator. The two-year deal will see the launch of a new sportsbook that will be hosted on the Stake.com website.
News of a partnership involving Sportradar doesn’t come as a surprise after the company appointed Werner Becher as its new managing director of US sports betting. The former Interwetten CEO was recruited with the remit of building on the data supplier’s US expansion from New York. Becher spent seven years at Interwetten, and in that time, the operator’s group revenue doubled.
Upon joining Sportradar, Becher stated that he was thrilled to have joined the company and was looking forward to working with the management team. He declared his mission was to “grow our market share and ensure the future success of the organisation”.
Stake.com founder Eddie Miroslav revealed his team had spent several months working on the new sportsbook. Miroslav said he was confident that the addition would be a profitable one for the company. Adding;
With a look and feel that is exclusive to our platform, we are confident that our partnership with a data supplier of this calibre is going to fit the needs and wants of our substantial player base.– Eddie Miroslav, Stake.com founder.
One of the first deals Becher worked on was to complete the take-over of sports betting platform provider Optima. The deal, estimated to have cost in the range of £25m for the company whose last twelve months results showed earnings before interest, taxes, depreciation, and amortisation (EBITDA) figure was £2.5m.
Sportradar’s acquisition of Optima ends a 12-month hunt for a full sports betting platform to accelerate US growth ambitions. The company was reputedly close to a deal with one of the iGaming industry’s leading provider of sports betting solutions SBTech. However, a price couldn’t be agreed between the companies, and Sportradar turned their attentions to Optima.
Optima’s platform is used by bookmaker Betfred, who use OPTIMAMGS for its sports betting offerings in Spain and the US.
Sportradar had previously agreed to a deal for its managed trading services to be integrated into a full platform from AMTote. However, so far no customers have been announced for the offering, and it hasn’t been revealed if that agreement is under threat due to the Optima acquisition.